Key Points
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Tourmaline reported Q3 net earnings of CAD 641.5 million and cash flow of CAD 788 million, while average production of 593,700 boe/d came in slightly below guidance after the company deferred output to capture stronger seasonal prices.
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The company expects production to rise to about 670,000 boe/d by its 2026 exit rate and forecasts CAD 1.8 billion in 2027 free cash flow at current strip prices, alongside CAD 2.6 billion in planned capital spending.
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Tourmaline is prioritizing share buybacks for capital returns and is developing a powered-land and data center project with partners; its initial power phase is expected to begin in early 2028.
Tourmaline Oil (TSE:TOU) plans to increase production through the fourth quarter and expects to generate CAD 1.8 billion in free cash flow in 2027 at current strip pricing, executives said on the company's third-quarter earnings call.
The Canadian energy producer reported third-quarter net earnings of CAD 641.5 million and cash flow of CAD 788 million, or CAD 2.02 per fully diluted share. Average production was 593,700 barrels of oil equivalent per day, sli...